UE books revaluation gains but dividend falls

Singapore

REVALUATION gains lifted United Engineers' (UE) full-year net profit from continuing operations to S$89.6 million, up 227 per cent from 2016.

This was due mainly to a net revaluation gain of S$44.4 million from its investment properties in Singapore, as well as a S$16.8 million reduction in the provision for rental support for UE BizHub East which was no longer required.